4-Bay Self-Service Car
New
For Sale
$225,000
108 E Morgan, Meridian, TX 76665
Maintained automotive property with on-site ice and water equipment.
Property Size1,560 SF
Days on Market7
Property Features for 108 E Morgan
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Commercial
Zoning
land
Additional Details
Car Wash Bays
4
Amenities
Car Wash
Ice and water machine
Building Details
Building Size
1,560 SF
Year Built
1980
Stories
1
Units
1
Listing Agency:
Central Realty
(254) 749-5795
Listed By:
William Crawshaw · License #0522719
(254) 749-5795
Source:
Fullhouserealtytx
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 19 at 2:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Central Realty
Investment Insights
Based on property information with market context.
This self-service car wash includes four bays and on-site ice and water machines. The facility was built in 1980 and is described as very well maintained. The property is zoned land and is located at 108 E Morgan in Meridian, Texas.
Key Highlights
- 4‑bay self‑service car wash
- On‑site ice machine
- On‑site water machine
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,179
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$363,580
$363.6K
Cap Rate 7%
$259,700
$259.7K
Cap Rate 9%
$201,989
$202.0K
Market Conditions
NOI Build-Up for 1,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.0K $18.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$26.0K $16.65/SF
− OpEx
−$7.8K −$4.99/SF
NOI
$18.2K $11.65/SF
Area
Bosque County, TX
Vacancy
10.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$363,580
Cap Rate 7%
$259,700
Cap Rate 9%
$201,989
Alternative Uses
Best Use
Specialty Retail
$299.5K
$262.1K – $349.4K
NOI $20,965 @ 7.0% cap · market cap 9.32%
Second Best
Retail
$259.7K
$227.2K – $303.0K
NOI $18,179 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$411.6K
$360.1K – $480.2K
NOI $28,810 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 10%
Exxon
Shops & Services
2,247 visits/mo
0.3 miles
Simple Simon's Pizza
Dining
258 visits/mo
0.3 miles
Demographics for 76665, TX
2,390
Population
1,441
Households
1.7
Avg Household Size
47
Median Age
17%
College-Educated
89%
High-School Grad
167.3 sq mi
ZIP Area
14
Density / Sq Mi
$62,098
Median Household Income
$36,500
Median Earnings
$624
Median Rent
$124,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Maintained automotive property with on-site ice and water equipment.
Where is this self service car wash located?
The property is located at 108 E Morgan Meridian, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 4‑bay self‑service car wash; On‑site ice machine; On‑site water machine
